Ray Townsend Farms, Inc. v. Smith

John B. Robbins, Judge.

Appellee Magorie Smith sued her nephew, appellant Ray Townsend,1 for allegedly mishandling the assets of a corporation in which they each owned fifty percent of the stock. Following a trial, the jury entered a verdict against appellant for $200,000 in compensatory damages and $50,000 in punitive damages. Sometime thereafter, the trial judge ordered liquidation of the corporation. Appellant now appeals and argues that the trial court erred in: 1) granting appellee a directed verdict on certain issues; 2) depriving him of his Seventh Amendment right to a trial by jury; 3)…